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Today I learned from the twits at stocktwits that Big Henry has created yet another company: Kingdom Commission.
This one is actually pertinent, as it is a non-profit, which is something the PHIL has proven itself to be quite adept at its entire existence:
And what about the Tih Thanh loans?
From the amended 10Q for the quarter ending 30 September 2022:
Notes payable mysteries...
From the most recent amended 10Q for the quarter ending 9/30/2022 we learn the following:
As ridiculous as all this is, I did note this from the most recent 10Q:
Up 100%? That's the Rose Colored Glasses view for sure.
Isn't it actually down 30% from the last time it traded outside of Expert Market?
Just trying to compare apples to apples or turds to turds as the case may be.
Let us see how these Phantasies play out:
From the press release dated 2/1/2023: https://www.nasdaq.com/press-release/phi-group-inc-n-ka-philux-global-group-updates-on-asia-diamond-exchange-project-in
Dude, for real? Publishing the litany of false/misleading press releases, the pitiful financial statements (or lack thereof) and all the other inane info that's been twittered would be a good thing? This stock doesn't need folks with even an ounce of sense reading about it. It chiefly needs the hapless maroons which big Henry seems to be reaching just fine.
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Real news releases cost real money. So do audits.
This is just too funny! lol! From stocktwits:
Dude on Stocktwits writes this. A true believer. lol! Funny thing is, I definitely believe the poster.
Expert market impacting convertible note issuing?
Seems like it would given the difficulty of dumping the converted shares. Might make it difficult to issue new notes. I wonder also if the existing note contracts have any penalties associated with not being current. Given that selling these notes is about the only thing PHIL has shown any success with it might be a problem.
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This is exactly the type of thing that the Phoolish Philsters would love to believe:
Why does this remind me of an advance fee fraud?
Advance fee frauds ask investors to pay a fee up front – in advance of receiving any proceeds, money, stock, or warrants – in order for the deal to go through. The advance payment may be described as a fee, tax, commission, or incidental expense that will be repaid later.
From PHIL's 17 January 2023 8K:
Is this a Monty Python skit? LOL! WTF?
From today's 8K:
Today is an excellent opportunity to learn how penny stocks work. Fortunately, I have short video that explains it quite well:
Tutorial on penny stocks
Some of you may even be thinking about complaining to the SEC. I have an easy cut-and-paste letter you can use:
Wasted some time reading the finally filed only 3 months late 10k.
First page:
More fodder for next year's most inane list.
From stocktwits:
The most inane PHI Group company issue of 2022 [see end of post for past year's nominees].
As usual there are many worthy ones. I've listed my favorites in roughly chronological order but keep in mind that some of most preposterous are recurring themes.
Ramping up the authorized share count. 40 to 60 billion. Outstanding count? No one knows because...
The lack of interest in filing required SEC reports. Missing the most recent 10K and 10Q.
Verisealed. Remember, this was where 'RESTAURANTS CLICK TO RECIEVE [sic] FREE BAGS' and 'Company can generate over two hundred millions U.S. dollars in net profits per year'. Alas, website is defunct.
The marketable securities. Valued at some $4,000,000. LOL! 91 shares of MYSN and 292 million shares SPBV. SPBV finally dumped but proceeds unknown.
GLINK's Picasso paintings worth some $180 million with their official appraisals posted online. Cannot link, as that info has been removed.
Buying KOTA and TTG. Maybe. Someday. With millions of actual dollars from...
The Loans. Just won't go away. Neok and Geza nixed. Al Aqel, Arab League, Haj Finance, some kind of Crypto, an MOU with an investor in the GCC region (lol!) all still in play.
The Carbon token. Even I couldn't not grasp this. A token with no discernable value of any kind manages to trade for months, then just up and disappears.
Disgruntled lenders suing PHIL in NY State and receive default judgements.
But of course none of these compare to the true highlights of the year. Ready?
Number 3. Vinafilms. Was going to take us to the Q! Turned out to be much ado about nothing. Nixed.
Number 2. The idea that Crown Bridge (slapped by the SEC) will be required to buy billions of PHIL shares as some sort of penance. And Darkpulse the same
Number 1. The buyback but not just the buyback. The idea that some secretive entity called 'De Minimis Firms' is actually buying shares on behalf of PHIL to facilitate the buyback.
2021 nominees:
MYSN fantasy.
Just read this nonsense on stocktwits:
djk0689 Matt P @djk0689
$PHIL MYSN has another filing out as of yesterday that is GAAP audited. Provided by 3rd party. Last we read PHIL had holdings in MYSN and they recently sold the position to become consultants for MYSN.
Yawn... 10Q due today for the quarter ending 9/30/2022. My guess is it would be an extraordinary circumstance if we saw that. Lol! Where's the missing 10K?
The backyard clubhouse gang strikes again.
From the 8K filed today https://www.sec.gov/ix?doc=/Archives/edgar/data/0000704172/000149315222031947/form8-k.htm
We read the following tidbits:
1. Date challenged. Again.
Second Amendment to the Stock Transfer Agreement that was signed on August 13, 2023
TTG agrees with PGG that the parties try to promote all investment programs that PGG has proposed as soon as possible
shall transfer 51% share of TTG to the Company to be assigned by PGG
shall arrange a sum of money via PHIL’s shares up to US$ 10 million
TTG and PGG shall unify to become a large organization
Curious thing about Michael G. Bennett. Or is it Gene M. Bennett?
A number of names resurface from time to time in the PHI universe. One example is Johnny Park. There have been others over the years.
I couldn't help but notice a managing director of 'Philux Capital Advisors' is a dude named Michael G. Bennett.
Read about him here:
http://www.philuxcapital.com/management
MICHAEL BENNETT
Mr. Bennett holds a B.A. in Accounting and M.B.A in Finance from Michigan State University. He brings to Philux Capital Advisors an extensive background both in domestic and international business focusing on; accounting, finance, management, fund raising, taking companies public and corporate governance.
His extensive background includes having been a CPA, CFO, CEO, Audit Chair for several Board of Directors, Chairman of the Board and teaching at California State University-Fullerton, University of Hawaii, Chaminade University and Chapman University in California.
Having held “C” level positions for companies in various industries and geographic focus - USA, China, Singapore and Vietnam, Mr. Bennett has contacts and business relations globally. Mr. Bennett is active in fundraising, taking companies public, corporate governance, and cross border transactions.
Gene M. Bennett has been serving as Chief Financial Officer of the Company since November 2001. Bennett, a CPA, has more than 20 years of experience as a chief financial officer, controller, professor and consultant and holds an MBA with honors from Michigan State University. He also attended law school at the University of Michigan and Coolidge. He has assisted firms in going public, in participating in mergers and acquisitions, and in forming strategic partnerships. He has served as Chief Financial Officer of many companies operating in various fields, including, ProCFO, Ltd., BBI Holdings, Inc., Argonaut Network Systems, Inc. He has served as Vice President of Finance for National Automobile Club of California, Certified Public Accountant for Gerbel&Butz Baugh, CPA in Michigan and also has been a professor of law and business, quantitative methods, audit, tax and cost accounting at University of Honolulu, California State University, Fullerton, and Chapman University.
TO: HENRY FAHMAN
FROM: GENE M. BENNETT,
SUBJECT: CHANGE OF POSITION
DATE: 3/21/2005
Henry Fahman, President and CEO of Providential Holdings, Inc., please accept my resignation as the Chief Financial Officer of Providential Holdings, Inc. to be effective March 21, 2005. And, please accept my desire to be appointed Business Development Officer – Asia . I have no disagreement with the company on any matter relating to the company's operations, policies or practices.
Sincerely,
/s/ Gene M. Bennett
Carbon Corp Kaput...
CO2-1-0 (CARBON) CORP from https://wyobiz.wyo.gov/Business/FilingSearch.aspx
Dissolution / Revocation - Tax - 2022-003914900 Date:11/09/2022
Delinquency Notice - Tax - 2022-003821812 Date:09/02/2022
Initial Filing - See Filing ID Date:09/21/2021
Browser: Working
Cloudflare: Working
www.co2-1-0.io Host: Error
If one actually reads the 10Ks looking for this, they find:
Share dividend: On March 12, 2012 the Board of Directors of the Company declared a special stock dividend to shareholders of Common Stock of the Company with the following stipulations: (a) Declaration date: March 16, 2012; (b) Record date: June 15, 2012; (c) Payment date: September 17, 2012; (d) Dividend ratio: All eligible shareholders of Common Stock of the Company as of the Record date shall receive three new shares of Common Stock of the Company for each share held by such shareholders as of the referenced record date. The purpose of this special stock dividend was to partially mitigate the impact of the dilution in connection with the 1-for-1,500 reverse split of the Common Stock on the Company’s long-term shareholders and reward them for staying with the Company. On June 6, 2012, the Company’s Board of Directors passed a resolution to change the record date for the special stock dividend to July 31, 2012 and the distribution date to November 30, 2012. The Company has reserved a total of 5,673,327 shares of Common Stock for this special dividend distribution and will reset a new distribution date when a registration statement for the dividend shares is declared effective by the Securities and Exchange Commission.
Just to really drag this out, PHIL has never effected a 1 for 15 split. However
On March 15, 2012, the Company effectuated a 1 for 1,500 reverse split of the Company’s Common Stock.
ADE document plagiarized? I wish I could take credit for this find. Goes to VRNAQLR on stocktwit. Even better is the comments from the believers over there. Classic shoot the messenger.
Here's big PHIL's doc: https://philuxfunds.com/wp-content/uploads/2022/11/ASIA-DIAMOND-EXCHANGE-SETUP-AND-INDUSTRY-REPORT-2021-2022.pdf
Here's something from Bain: https://www.bain.com/insights/global-diamond-industry-2020-21/
Decide for yourself. lol!
Judgement delivered on the Iruka Capital Group LLC case against Big Henry and Philux.
Seems even though properly served, defendants declined to appear, answer, or raise an objection to the complaint and now owe $74,432.76 to Iruka.
Viewable from the court website https://iapps.courts.state.ny.us/nyscef/CaseSearch
Financing package...
Big Henry is off to Turkey to "...work on the closing of a financing package..."
Seems like a good time to review the other financing packages he has floated over the past year or so beginning with:
$1.5 billion loan from Haj Finance Group.
The 8K dated 10/17/2021 did not give the details of this, but a subsequent posting at https://philuxglobal.com/wp-content/uploads/2022/09/Petrochemical-Refinery.pdf does.
Fees are 3% of the loan amount totaling some $45,000,000.
There was a website for a Haj Finance Group at hajfinancegroup.com. That was nixed. Then there was one at hajfinancegrouponline.com. That's been suspended.
A $2.0 billion loan from Neok Financial came soon after on 11/14/2021 with an 8K.
Original website was neokuae.com. Who remembers this? It had the deputy mayor of Philadelphia's picture as one of their customers Jane Smith from Dampee Group. That website was nixed. New website appeared at www.neokonline.com but that is now also gone.
An 8K dated 5/23/2022 terminated this.
Next up was a $1.5 billion loan from Geza Holding AG. On 12/10/2021 an 8k was filed detailing this. Original website was www.gezaholdings.ch which is now gone. Apparently replaced with www.geza-holding.com
Ank 8K dated 5/23/2022 terminated this.
Then, a $1 billion from Al Aqel and Partners Investment. An 8K dated 1/17/2022 detailed this. Websites were www.alaqelandpartnerinv.com and alaqelpartnersinvestment.com. Both now gone.
This has a fee of 155,450 Euros and requires a 1% surety bond.
Then, a $200 million loan from Arab League Investment Group. An 8K dated 1/17/2022 detailed this. Website was www.arablge.com. Now gone.
On 7/8/2022 an 8K appears telling us PHIL signed a Joint Venture/Partnership Agreement (Fund Management MOU) with an investor in the Gulf Cooperation Council region to manage an initial amount of $3 billion. But the details are too hush hush to be included.
Finally, in the 10Q for the quarter ending 6/30/2022 we read about a Crypto Loan Agreement effective May 24, 2022 with Mr. William Hogarty, an individual, (“Lender”) for a crypto loan facility in the aggregate amount of $17,000,000 worth of Bitcoins.
Who thinks any of the above is actually legit?
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The Carbon token.
Help me remember.
Big Henry was going to help some dude named Choky whip up a new token that was going to help combat climate change. From a press release dated 6 August 2021 ( https://www.globenewswire.com/en/news-release/2021/08/06/2276569/0/en/PHI-Group-Engages-in-Blockchain-and-Crypto-Technologies-in-a-New-Disruptive-Carbon-Mitigation-Initiative-through-Environmentally-Sustainable-projects-CO2-1-0-CARBON.html ):
...PHI Group will contribute a major portion of the development budget in exchange for 50.1% shares of CO2-1-0 (CARBON)...
CO2-1-0 (Carbon) Corp. Tokens - 400,000,000 issued @ $0.25/token 100,000
Good lord man that is not the case. LOL!! How did you even find it and not find the correct one? The Iruka Capital case has not yet had judgment rendered. I'm guessing that is inevitable though. It is the Apex Funding case which has had judgment rendered.
For anyone else unable to follow this, here it is in ABC, 123, I see a Cat format:
1. Use the link https://iapps.courts.state.ny.us/nyscef/CaseSearch
2. Deal with the captcha
3. Select the Name tab
4. Name Type: Party
5. Enter Philux in the Business/Organization field
6. Press Search
First result, case 133868-2022, is the one of interest at the moment. But keep checking for further updates.
Judgment delivered on the Apex Funding suit against Big Henry, Philux, et. al.
Seems even though properly served, defendants declined to appear, answer, or raise an objection to the complaint and now owe $65,235.24 to Apex.
Viewable from the court website https://iapps.courts.state.ny.us/nyscef/CaseSearch
The Haj loan. LOL! Oh my.
From the most recent 10Q https://sec.report/Document/0001493152-22-014785/
The Company has satisfied certain international legal and administrative requirements, set up a Special Purpose Vehicle in United Arab Emirates under the name of PHILUX DUBAI GLOBAL LLC FZCO, Formation No. DAFZA-FZCO-CF-1095, License No. DAFZA-FZC-CF-1095.22, and is in the process of completing the Hawala Global Certification process with the Central Bank of United Arab Emirates and the Anti-Graft Clearance Certificate by the Gulf Cooperation Council towards the expected release of the financing proceeds.
The case of the vanishing SPBV shares now has an answer:
SPBV filed some hokey financial docs one of which https://www.otcmarkets.com/otcapi/company/financial-report/348892/content
contains this:
On May 03, 2022, Chinh Trong Truong acquired 292,050,000 of SPBV’s Common Shares (represents 43.32% of total
outstanding shares) from PHI CAPITAL HOLDINGS, INC
Vinafilms auditing. These same minds wonder if all we read from PHIL is the truth. Lol!. From the press release originally talking about this:
PHI Group has recently engaged Grant Thornton Vietnam Ltd. (www.grantthornton.com.vn.) to conduct an independent valuation to determine the fair-market value of Vinafilms JSC.
PHI agrees to reimburse VNF for all such reasonable auditing expenses incurred or paid for by VNF in connection with the financial audits carried out by DylanFloyd and M.S. Madhava Rao auditing firms with respect to said Business Cooperation Agreement.
PHI Group’s management believes the acquisition of Vinafilms should enable PHIL to qualify for an uplist to the Nasdaq Stock Market in the very near future.
Vinafilms. lol! Well, inquiring minds wanted to know: Who buys a company without knowing its value? Who sells control of a company for a stack of worthless paper?
As far as Vinifilms is concerned I guess we will never know. Today's 8K nullified the agreement as if it never took place. So I guess PHIL gets back its stack of worthless paper and Vinifilms, well, goes back to being Vinifilms.
Have to laugh at the 8k blaming the collapse of the deal on the Covid.
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Terms of the contract between Big Henry and Apex Funding is viewable from the court website https://iapps.courts.state.ny.us/nyscef/CaseSearch
PHIL sold future receivables worth $89,940 for $60,000 and for the privilege of doing that PHIL had to pay various fees of $6000, so the net amount was $54,000 for $89,940 in future receivables. Ouch! Lol!
But the real questions is: What receivables could PHIL possibly have to sell?
Curiously, in the span of just a few days we find:
1. Henry abruptly decides not to file the most recent 10-K
2. One of the fake loan websites is now suspended
3. Two separate lawsuits regarding the selling of receivables and not honoring the terms of the contract.
Could these all be related? Is there something even more onerous in progress that we just do not know about yet? Inquiring minds want to know!
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Fake loan update. Now I am really lol...
http://www.hajfinancegrouponline.com/
Account Suspended
This Account has been suspended.
Contact your hosting provider for more information.
There is an interesting correlation between the liens and the lawsuits.
Who remembers the liens?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169261059
The UCC filing from 5/11/2022 lists the secured creditor as Iruka Capital Group, LLC and the list of debtors is the same as the Iruka lawsuit: Big Henry and Philux Capital Advisors.
The UCC filing from 3/1/2022 lists the secured creditor as C T Corporation System as Representative, so that could match up with the Apex Funding lawsuit. The list of debtors matches that lawsuit:
PHILUX CAPITAL ADVISORS INC, 15272 Flintridge Ln, Huntington Beach, California 92547
PHI GROUP, INC. DBA PHILUX GLOBAL GROUP, INC.,
15272 Flintridge Ln, Huntington Beach, California 92547
AMERICAN PACIFIC RESOURCES, INC., 15272 Flintridge Ln, Huntington Beach, California 92547
EMPIRE SPIRITS, INC, 15272 Flintridge Ln, Huntington Beach, California 92547
VINAFILMS INTERNATIONAL, INC. , 15272 Flintridge Ln, Huntington Beach, California 92547
HENRY DACK FAHMAN, 15272 Flintridge Ln, Huntington Beach, California 92547
PHILUX CAPITAL ADVISORS, INC. 15272 FLINTRIDGE LN
HUNTINGTON BEACH, CA 92647
PHI GROUP, INC. 15272 FLINTRIDGE LN
HUNTINGTON BEACH, CA 92647
PHILUX GLOBAL GROUP, INC. 15272 FLINTRIDGE LN
HUNTINGTON BEACH, CA 92647
CO2-1-0 (CARBON) CORP. 15272 FLINTRIDGE LN
HUNTINGTON BEACH, CA 92647
AMERICAN PACIFIC RESOURCES, INC. 30 N GOULD ST STE R
SHERIDAN, WY 82801
EMPIRE SPIRITS, INC. 30 N GOULD ST STE R
SHERIDAN, WY 82801
VINAFILMS INTERNATIONAL, INC. PO BOX 11149
WESTMINSTER, CA 92685
PROVIDENTIAL SECURITIES INC 17011 BEACH BLVD STE 1270
HUNTINGTON BEACH, CA 92647
PROVIDENTIAL HOLDINGS INC 17011 BEACH BLVD STE 1270
HUNTINGTON BEACH, CA 92647
HENRY DACK FAHMAN 15272 FLINTRIDGE LN
HUNTINGTON BEACH, CA 9264
Of course it does name Philux Global Group which one would clearly see if they simply read the complaint.
PHILUX CAPITAL ADVISORS INC, 15272 Flintridge Ln, Huntington Beach, California 92547
PHI GROUP, INC. DBA PHILUX GLOBAL GROUP, INC.,
15272 Flintridge Ln, Huntington Beach, California 92547
AMERICAN PACIFIC RESOURCES, INC., 15272 Flintridge Ln, Huntington Beach, California 92547
EMPIRE SPIRITS, INC, 15272 Flintridge Ln, Huntington Beach, California 92547
VINAFILMS INTERNATIONAL, INC. , 15272 Flintridge Ln, Huntington Beach, California 92547
HENRY DACK FAHMAN, 15272 Flintridge Ln, Huntington Beach, California 92547
There are at least two lawsuits from New York.
https://iapps.courts.state.ny.us/nyscef/CaseSearch
No payment is required.
133868-2022
09/08/2022 Partial Participation Recorded
Pre-RJI APEX FUNDING SOURCE LLC v. PHILUX CAPITAL ADVISORS INC et al Ontario County Supreme Court
Other Matters - Contract - Other
526228/2022
09/09/2022 Partial Participation Recorded
Pre-RJI IRUKA CAPITAL GROUP LLC v. PHILUX CAPITAL ADVISORS, INC. et al Kings County Supreme Court
Other Matters - Contract - Other